Minneapolis Pension Levies
From:
Tim Bonham
Date:
Mar 30 01:57 UTC
Short link
Michael Katch said:
"If this was in fact the truth, then CM Clovin Roy was not telling the truth at
the east Nokomis community center last fall, she along with Tara Barenok from
the mayors office told us that the city borrowed $26 million this year from the
Legacy fund..."
I think you misunderstood that, Mike.
$26 million was the amount of City bonds that were sold to finance payments
into the pension funds. It wasn't taken from the Legacy Fund. (Except in the
sense that as a general obligation bond, it is a debt against all City assets,
including that fund,)